IBIT to BTC Calculator
Convert IBIT to BTC instantly — strikes, premiums, break-even.
Convert IBIT option strikes and premiums into Bitcoin price targets using the live BlackRock BTC-per-share ratio. Also supports FBTC, GBTC, ARKB, BITB, and BTC ETFs. Formulas: Strike ÷ ratio (ITM), (Strike + Premium) ÷ ratio (call break-even), and (Strike − Premium) ÷ ratio (put break-even).
Based on IBIT BTC-per-share ratio, updated daily from fund holdings data.
Options Break-Even Calculator
"What BTC price does this contract need?"
Enter the option premium from your brokerage to calculate break-even.
Common IBIT Strikes → BTC Prices
Quick reference for standard strikes. Enter premium above for break-even calculation.
| IBIT Strike | BTC for ITM | vs. Current BTC |
|---|---|---|
| $30.00 | $52,817 | — |
| $35.00 | $61,620 | — |
| $40.00 | $70,423 | — |
| $45.00 | $79,225 | — |
| $50.00● Current | $88,028 | — |
| $55.00 | $96,831 | — |
| $60.00 | $105,634 | — |
| $65.00 | $114,437 | — |
| $70.00 | $123,239 | — |
| $75.00 | $132,042 | — |
| $80.00 | $140,845 | — |
Current IBIT ↔ BTC Parity
Live market data for reference.
IBIT to BTC Methodology
Methodology: IBIT ratio sourced from BlackRock iShares official holdings data. Other ETF ratios derived from fund holdings (ARK for ARKB) or NAV-calibrated daily. Live prices via CoinGecko (BTC) and Finnhub (ETFs). Implied BTC = ETF price ÷ ratio. Premium/discount calculated vs. real-time BTC spot.
IBIT to BTC ratio: the amount of Bitcoin backing each IBIT share (approximately 0.000568 BTC). Divide any IBIT strike or share price by this ratio to get the equivalent Bitcoin price. The ratio is sourced daily from BlackRock iShares official holdings data and decreases slowly over time as management fees are deducted. Ratio is derived from iShares' published BTC-per-share holdings (updates as fees accrue).
Data last refreshed: .
IBIT BTC-per-share ratio sourced from BlackRock iShares official holdings data, updated daily.
IBIT Options Break-Even
To find the break-even Bitcoin price for an IBIT call option, add the premium to the strike price, then divide by the BTC-per-share ratio: (Strike + Premium) ÷ ratio = break-even BTC. For an IBIT put, subtract the premium instead: (Strike − Premium) ÷ ratio. The calculator above handles this automatically for any supported ETF — enter your strike and premium to see the exact BTC price your contract needs.
FAQ
How do I convert an IBIT strike price to Bitcoin price?
Divide the IBIT strike by the BTC-per-share ratio. Example: a $60 IBIT strike with a 0.000568 ratio corresponds to about $105,634 BTC (60 ÷ 0.000568). The same formula works for other supported ETFs using their respective ratios.
Which other Bitcoin ETFs does this calculator support?
In addition to IBIT (iShares Bitcoin Trust), we support FBTC (Fidelity Wise Origin Bitcoin Trust), GBTC (Grayscale Bitcoin Trust), BTC (Grayscale Bitcoin Mini Trust), BITB (Bitwise Bitcoin ETF Trust), and ARKB (ARK 21Shares Bitcoin ETF). Use the ETF dropdown at the top of the calculator to switch between them.
How do I calculate the break-even Bitcoin price for an IBIT call option?
Add the premium to the strike, then divide by the BTC-per-share ratio. Example: ($60 + $1.03) ÷ 0.000568 ≈ $107,447 BTC. See the IBIT Options Break-Even section for more details.
How do I calculate the break-even Bitcoin price for an IBIT put option?
Subtract the premium from the strike, then divide by the BTC-per-share ratio. Example: ($50 − $1.00) ÷ 0.000568 ≈ $86,268 BTC. For the put to profit, BTC must fall below this price.
What is the IBIT to BTC ratio?
The IBIT-to-BTC ratio (approximately 0.000568) represents how much Bitcoin backs each IBIT share. It is derived from BlackRock iShares official holdings data and changes slowly over time as fees are deducted. With this ratio, approximately 1,761 IBIT shares equal one Bitcoin.
What does IBIT premium or discount to NAV mean?
It reflects how IBIT's market price compares to the BTC value implied by its holdings. A premium means IBIT trades above NAV; a discount means below. Deviations can occur due to timing and after-hours conditions.
Where does the BTC-per-share ratio come from?
For IBIT, the ratio is derived from BlackRock iShares official holdings data. For ARKB, we parse ARK's daily holdings CSV. Other ETFs use NAV-derived ratios calibrated daily from closing prices. Each ETF shows its own ratio timestamp so you can see how current the data is.
How do I convert an FBTC strike price to Bitcoin?
Select FBTC from the ETF dropdown at the top of the calculator. The tool automatically loads Fidelity Wise Origin Bitcoin Trust's BTC-per-share ratio and adjusts strike ranges to match FBTC's price. The same formula applies: Strike ÷ ratio = implied BTC price.
How do I convert a GBTC strike price to Bitcoin?
Choose GBTC from the ETF dropdown. Grayscale Bitcoin Trust has a different BTC-per-share ratio than IBIT due to its different share structure and fee history. The calculator automatically uses GBTC's ratio and adjusts the strike range to match GBTC's current price level.
How do I convert an ARKB strike price to Bitcoin?
Select ARKB from the ETF dropdown. The ARK 21Shares Bitcoin ETF ratio is sourced from ARK's daily holdings data. Strike ranges and quick-select buttons automatically adjust to ARKB's current price when you switch.
How do I convert a BITB strike price to Bitcoin?
Choose BITB from the ETF dropdown. The Bitwise Bitcoin ETF Trust ratio is NAV-calibrated daily from closing prices. The calculator adjusts all strike ranges and conversion tables to match BITB's price level automatically.